Nizam’s diamond sells for record $39m

Apr 18, 2013 |

New York

An extraordinary 34-carat “Princie” diamond from the mines of Golconda in South India, once owned by the world’s richest man — the last Nizam of Hyderabad — has sold for a record $39 million at an auction here.
The diamond — a 34.65-carat Fancy Intense Pink cushion-cut sparkler — was purchased by an anonymous collector bidding by phone.
It set a new record at Christie’s New York on Tuesday, selling for $39,323,750 with premium, or $1,135,000 per carat.
“Aside from Christie’s sale of the legendary Collection of Elizabeth Taylor, this was the most successful jewellery auction ever held in the US and Christie’s was proud to have orchestrated the sale of such an historic gemstone,” Rahul Kadakia of Christie’s Americas and Switzerland said.
The diamond was bought at auction by Van Cleef & Arpels from the Nizam in 1960. It was named the “Princie” in honour of the Prince of Baroda at a party thrown by Van Cleef & Arpels and attended by the prince and his mother, Maharani Sita Devi.

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